Two obvious critical issues. Firstly that a section of the mine returned significantly lower grade that is in no way adequately explained (such that we cannot be sure it wont reoccur). And secondly that two material impacts on the mine (the grade and the change in mining methods to blasting) were only communicated to shareholders on the absolute last possible day. This is a reflection of not just poor management in general, but management that are not of the calibre to be running an active mining company.
Sure they might meet guidance and get by, but as i said before, if they dont when are you going to hear about it? It’ll be when its too late and its preceding a desperate CR. This is a bottom tier explorer and any funds deployed here should represent that. There is still far too much upside factored into this shareprice to be a buy at the moment imo
MAT Price at posting:
19.0¢ Sentiment: Sell Disclosure: Not Held
